Yes, you can have multiple demat accounts with different stock brokers in India. But, what’s the need to have 2 demat accounts? Just have a single demat account with a good popular broker. That’s it!
A trader can keep as many demat accounts as he wants with different brokers. Amongst which one is always primary and others are secondary accounts. I think there isn’t any issue in having 2 demat accounts. You can have more than 1 demat account. It’s upto you how you manage them.
But, I personally feel having only 1 demat account is perfectly fine. Since it saves cost and you can manage well. Why to pay extra account opening and maintenance fees to different brokers? Right!
However, if you still want two different demat accounts, you can keep one with your favourite broker and can open one with another. Why add to the cost by opening another account with AMC and account opening charges?
Why do you need to maintain 2 demat and trading accounts? When you can hold all your securities, mutual funds at one place, there seems no need to bear charges for two or more of them. These days, there are brokers offering a 3-in-1 demat and trading and saving account also. That’s all the more convenient. What say? Agree to it.
Yes, you can legally have two or even multiple demat accounts in India using the same PAN. SEBI allows this as long as each account is properly KYC-compliant and opened with a registered broker or DP. Many investors maintain multiple demat accounts to separate long-term investments and trading.
Thankyou.
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